Comments on: Major Housing Breakthrough Near? http://socalrealestatenews.com/blog/major-housing-breakthrough-near/ Real Estate News and Perspective from the Front Lines Sat, 31 Jul 2010 08:57:33 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Average Joe in The OC http://socalrealestatenews.com/blog/major-housing-breakthrough-near/comment-page-1/#comment-250 Average Joe in The OC Wed, 02 Apr 2008 01:07:28 +0000 http://socalrealestatenews.wordpress.com/?p=36#comment-250 HI, I'm an average Joe in the OC. In full disclosure, I'm bearish on real estate. I like this Blog ... despite the blogger's self proclaimed lack of blogging experience, Dave has created a nice site. I will certainly come back and contribute my opinion. HI, I’m an average Joe in the OC. In full disclosure, I’m bearish on real estate.

I like this Blog … despite the blogger’s self proclaimed lack of blogging experience, Dave has created a nice site. I will certainly come back and contribute my opinion.

]]> By: jod http://socalrealestatenews.com/blog/major-housing-breakthrough-near/comment-page-1/#comment-249 jod Tue, 01 Apr 2008 19:57:15 +0000 http://socalrealestatenews.wordpress.com/?p=36#comment-249 happy 4-1 happy 4-1

]]> By: Seeking Alfalfa http://socalrealestatenews.com/blog/major-housing-breakthrough-near/comment-page-1/#comment-251 Seeking Alfalfa Tue, 01 Apr 2008 14:56:37 +0000 http://socalrealestatenews.wordpress.com/?p=36#comment-251 The real story is that FHA will get 400 Billion to insure Subprime Mortgages. Since the toxic loans are now insured by the Gov, the banks won't be so hot to foreclose and they will be more agreeable to helping people keep the house. This is an extention of the 1995 Communit Reinvestment Act which helped create the subprime loan. Sub prime loans won't go away because if you read the Act they are mandated by Congress. Our boys in DC had 2 choices1. Repeal the Act and have every Housing Advocacy Group on the 6 o'clock news denouncing them as insensitive to the plight of the poor, or 2. Give in and have the government insure the loans. #2 was the only option for a politician. With this progarm in place one of the results will be a bottom to the housing market since the banks will no longer be throwing foreclosed properties on the market at cut rate prices. I't not my favorite solution but, I can live with it. The real story is that FHA will get 400 Billion to insure Subprime Mortgages. Since the toxic loans are now insured by the Gov, the banks won’t be so hot to foreclose and they will be more agreeable to helping people keep the house. This is an extention of the 1995 Communit Reinvestment Act which helped create the subprime loan. Sub prime loans won’t go away because if you read the Act they are mandated by Congress. Our boys in DC had 2 choices1. Repeal the Act and have every Housing Advocacy Group on the 6 o’clock news denouncing them as insensitive to the plight of the poor, or 2. Give in and have the government insure the loans. #2 was the only option for a politician. With this progarm in place one of the results will be a bottom to the housing market since the banks will no longer be throwing foreclosed properties on the market at cut rate prices. I’t not my favorite solution but, I can live with it.

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